Forex and the Importance of Losing

Forex and the Importance of Losing
It is an extremely important discipline - that of happily
accepting losses. To many new (and some not so new)
traders, the thought of a losing trade is simply not
acceptable.

The reality of trading is of course a mixture of both wins
and losses with success being dictated by the ratio of
those wins and losses, and it is a complicated ratio. I
often see it defined as "you must aim for a win to loss
ratio of at least 2:1". Well that's nice work if you can
get it. The markets rarely allow us the luxury of employing
anything as straight forward as that.

The real ratio in most cases is to be able - in general -
to make more wins than losses and for those wins to be
greater in value then the losses.

Yes it would be nice to only enter those trades that will
definitely give us at least a 2:1 winning ratio but I have
yet to hear of any trader that can consistently do this.
The market just does not operate in that certain way.
Because of this, a vital part of any trading method must
include money management.

By employing a well developed strategy of money management,
it helps to even out the wins and losses thereby allowing
you to easily accept the losses that will most certainly be
coming your way.

If each time that you trade, your very survival depends
upon a win, then you will not like the prospect of a losing
trade, but rest assured that sooner or later - and likely
sooner - you will get one whether you like it or not.

Many new traders look for, or try to develop, strategies
that rarely if ever lose. This is a fruitless exercise. One
of the things that has to be accepted by traders is that no
matter how successful the method that you follow, there
will still be losing trades.

Imagine, just for the purpose of illustration, that you
have a method that wins 80% of the time (I am not claiming
that an 80% success rate is normal, because it isn't, this
is just for example). This means that you will lose 20% of
the time, or in other words, of the next 100 trades that
you make, 20 will lose and 80 will win.

The trouble is that you do not know in what order the wins
and losses will occur. If you were unfortunate, you could
find that the next 20 trades that you execute all lose. If
you elect to trade a high percentage of your trading
account, you could be wiped out before a winning streak
begins, and this would be a shame because theoretically,
the next 80 trades would all have been wins.

Of course, 20 straight losses are very unlikely, as are 80
straight wins - but it could happen. If you learn to employ
a strict system of money management, together with a
trading method that in general gives you more wins than
losses and bigger profits than losses on those wins then
you will be able to smile at your losses, because you will
know that over time, you will still be profitable.

Being able to smile at your losses in the same way that you
are able to smile at your profitable trades is an essential
emotional qualility, and it is one that can only be
developed by employing strict money management.

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Martin Bottomley is a full time professional forex trader,
acknowledged author, forex tutor and co-developer of forex
trading software including The Amazing Stealth Forex
Trading system.
You will find more information at:
http://www.stealthforex.com

How to Save Money With a Rewards Credit Card Balance Transfer

How to Save Money With a Rewards Credit Card Balance Transfer
Would you like to know how a credit card balance transfer
can save you hundreds of dollars from your credit card
bills? Do you currently have trouble keeping up with your
credit card balances? If yes, then a balance transfer may
just be what you need.

Getting a Balance Transfer Credit Card

What is a Balance Transfer credit card and how is it
different from standard credit cards in the market? If you
try to shop around for credit cards, you'll notice that
some credit cards offer 0% APR as part of their
introductory offer. The 0% interest rate will usually apply
on purchases but if you take a look closely at your
choices, you'll find credit cards that offer 0% rate on
balance transfers. If you're lucky, you can even find a
credit card that offers 0% APR for both purchases and
balance transfers.

Why should you take advantage of 0% balance transfer credit
cards? Carrying over your balances with each billing cycle
increases your debt due to additional interest fees. With
balance transfer credit card, you can focus on paying your
original charges without the interest. Do the math, and
you'll realize how much you can save from the interest
rates alone on your existing balances.

Finding the Right Balance Transfer Credit Card

Does this mean that all balance transfer credit cards are
right for you? Take note that different credit card issuers
also provide a variety of terms and conditions. Naturally,
you'll want to go with a company that will give you the
best deals.

For instance, how long will the 0% introductory period
last? Never forget that the zero interest offer is just a
temporary option. Some companies offer as little as three
months while others offer up to a year or more. Ideally,
enjoying at least 12 months of 0% interest offer should
give you enough time to repay your balances completely.

How much is the interest rate after the introductory
period? Will the interest rate still be reasonable when the
introductory offer ends or will it soar high? It's best to
choose a card that will still give you a reasonably low
interest even after the 0% APR expires.

How much is the interest on purchases? If the 0% APR is
limited to balance transfers alone, how much will the
interest be on your charges? If the interest on purchases
will be expensive, you may want to consider using this
particular card for balance transfers only.

Another thing to keep in mind is how much are the annual
fee? Some balance transfer credit cards may have very
expensive annual fees. If you have to pay such a large
amount each year, will it still enable you to save your
money? There are balance transfer cards that have no annual
fee so you'll want to take your time looking for the right
card to fit your needs.

----------------------------------------------------
Ann Wilson is the head writer of Credit Card Rewards -
Travel Reward Credit Card Site. This resource provides
consumers with valuable reviews and information on the best
rewards credit card programs. Visit the site at
http://www.rewardcreditcardsite.com/

Low Interest Rate Credit Cards: What to Look for

Low Interest Rate Credit Cards: What to Look for
In an ongoing effort to ward off recession concerns, the
Federal Reserve has been slashing interest rates. What does
this mean for you? It can mean a whole lot, especially when
it comes to credit cards. Now is a perfect time to take
advantage of dropping rates. You can apply for a low
interest credit card and watch your savings add up. Read on
to learn about low interest rate credit cards and what to
look for when shopping for one.

The Federal Reserve sets an interest rate that is used for
overnight loans between banks. This rate serves as a guide
for the prime rate, which is the interest rate banks give
to their most reliable customers. It is often 3% above the
rate set by the Federal Reserve. So if the Fed Funds rate
is 3%, the prime rate may be 6%.

Many credit cards come with a variable interest rate. This
rate is tied to the prime rate. As the prime rate rises and
drops, so does the interest rate on the credit card.

If you currently have a credit card, check to see if the
interest rate is fixed or variable. A fixed rate generally
does not change, but a variable one will. If you have a
variable interest rate, you should see a drop in the APR
(annual percentage rate). Call the card company to check on
your rates.

Switch Cards for A Better Rate

If your credit card currently has a high interest rate, or
a fixed rate, now may be the time to get a new card. A
lower rate card can help you save hundreds of dollars.
Consider the following: if your card has an interest rate
of 20%, and you carry a balance of $7,000 for a year,
you'll fork over $1,400 in interest. With a rate of 10%,
you'll pay only $700 over a year on the same balance.
That's a savings of $700, just for switching credit cards.

Other Benefits

While the biggest benefit of a low interest rate credit
card is the savings, there are other factors to consider.
Many include an initial 0% introductory rate on purchases.
Others offer 0% interest on balance transfers. This lets
you bring over an existing balance from a card with a high
interest rate. By getting a lower interest rate, you can
pay off the debt fast.

Low interest rate credit cards come with a variety of other
features. You can earn points for travel benefits or miles
toward airline tickets. You can also select from cash back
offers and other reward programs. You'll want to consider
these factors, as well as the interest rate, as you shop.

Apply Online

One of the best ways to look for a lower rate on credit
cards is through credit card websites. These let you
compare different benefits side by side. When you find what
you want, the application process takes only a few clicks.

With a low interest rate credit card, you can take
advantage of the dropping interest rates. The lower rate
will help you get rid of debt and save on interest expense.
Compare your different options and then apply online.
You'll be glad you did so.

----------------------------------------------------
To View Low Interest Credit Cards click the following link:
http://www.credit-card-surplus.com/lowinterest.php . Ed
Vegliante runs http://www.credit-card-surplus.com , a
directory helping consumers to compare and apply for credit
cards.

Why Annualcreditreport with No Credit Scores is not good enough.

Why Annualcreditreport with No Credit Scores is not good enough.
Annualcreditreport gives you a credit report free once a
year, but they don't give your credit score. I have been a
lender for 7 years, and believe me when it comes to getting
your loan done everyone looks at credit scores. Your credit
score is a bench mark for banks to sell your loan on the
secondary market. Typically investors use your middle
credit score to determine your creditworthiness. Here is
what myFICO® says in regards to how important it is to
know your credit score.

How credit scoring helps you

Credit Score gives lenders a faster snapshot of your credit
risk. Most lenders are now using FICO® to determine
your score. Before the scoring process was implemented
there was a biased opinion of your credit. Now there is
less none bias opinion of your creditworthiness with credit
score automation process with all 3 credit bureaus. When
pulling your credit report with all 3 Credit Bureaus you
typically get a score. Since annual does not provide this,
you have to get your report through other service providers.

Here are some advantages of credit scores.

* You get loans faster Your credit scores can be delivered
with a few key strokes with today's technology. With the
speedy process this helps lenders speed up the decisions
making process. Even mortgage applications can be made
within ours, instead of weeks.

* Credit Decisions are fairer Credit decisions can be made
of facts instead of emotions. Factors like your gender,
religion, race, marital status and nationality are not
considered by credit scoring.

* More Credit is Available

Lenders can approve more loans because the credit scoring
process gives them the information on which to base there
decision on. It allows lenders to identity individuals that
are likely to perform well in the future even though they
have had issues in the past. Each lender has its own credit
score guidelines, so if one denies you, you may get
approved elsewhere. The use of credit scores gives lender
the confidence to offer more credit to people since they
better understand the risk they are taking.

* Credit mistakes count for less

If you have credit problems in the past, credit scoring
does not let that haunt you forever. Past credit problems
fad as time passes as long as new good credit patterns show
up. Credit scoring weighs all credit in a file, as opposed
to focusing primarily on past issues.

* Credit Rates are lower

The cost of loans decreases when more credit is available.
The process of automation in the credit process is less
because of the efficiency of the process, which is passed
on to the consumer. Buy using the scoring process there are
less defaults, and in returns saves the consumer in the
long run. Credit Scores have revolutionized the lending
arena, and has driven down cost for everyone.

Conclusion:

Now you know why you need to know your scores and how
important it is. Recent studies show that 1 out of 4 credit
reports have incorrect information on them. Plus identity
theft is the fastest growing crime in America. You need to
check your free credit report with scores every 90 days
just to be safe in today's times. Since your scores are the
core in determining whether they will lend you money,
shouldn't you know what they are ? The answer to that is
yes.

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About the Author: Mike Clover is the owner of
http://www.creditscorequick.com/ . CreditScoreQuick.com is
the one of the most unique on-line resources for free
credit score report, fico score, Internet identity theft
software, secure credit cards, and a BlOG with a wealth of
personal credit information. The information within this
website is written by professionals that know about credit,
and what determines ones credit worthiness.